AdaptHealth Corp. (NASDAQ:AHCO) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of AdaptHealth Corp. (NASDAQ:AHCO) have received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $14.2857.

AHCO has been the topic of several recent analyst reports. Truist Financial boosted their target price on shares of AdaptHealth from $13.00 to $14.00 and gave the company a “buy” rating in a report on Monday, April 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of AdaptHealth in a report on Friday, May 22nd. Canaccord Genuity Group boosted their target price on shares of AdaptHealth from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Royal Bank Of Canada boosted their target price on shares of AdaptHealth from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of AdaptHealth from a “hold” rating to a “buy” rating in a report on Saturday, May 9th.

AdaptHealth Stock Performance

AHCO opened at $9.73 on Friday. The firm has a market capitalization of $1.32 billion, a PE ratio of -15.69, a PEG ratio of 0.55 and a beta of 1.47. AdaptHealth has a twelve month low of $8.06 and a twelve month high of $13.43. The firm’s 50-day moving average price is $11.53 and its 200 day moving average price is $10.55. The company has a current ratio of 0.92, a quick ratio of 0.71 and a debt-to-equity ratio of 1.21.

AdaptHealth (NASDAQ:AHCO) last posted its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.13). The firm had revenue of $819.80 million during the quarter, compared to analyst estimates of $796.63 million. AdaptHealth had a negative net margin of 2.42% and a positive return on equity of 2.76%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts expect that AdaptHealth will post 0.63 EPS for the current fiscal year.

Insider Activity

In other AdaptHealth news, insider Russell E. Schuster III sold 11,275 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $10.06, for a total value of $113,426.50. Following the transaction, the insider directly owned 136,538 shares in the company, valued at $1,373,572.28. The trade was a 7.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Richard M. Cashin, Jr. bought 820,528 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was purchased at an average price of $9.73 per share, for a total transaction of $7,983,737.44. Following the completion of the acquisition, the insider directly owned 14,638,708 shares in the company, valued at $142,434,628.84. The trade was a 5.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 2,494,518 shares of company stock worth $24,352,291 over the last quarter. 1.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AdaptHealth

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. raised its stake in shares of AdaptHealth by 433.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,585 shares of the company’s stock valued at $26,000 after acquiring an additional 2,100 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of AdaptHealth in the 3rd quarter valued at approximately $35,000. Assetmark Inc. raised its stake in shares of AdaptHealth by 54.8% in the 1st quarter. Assetmark Inc. now owns 6,952 shares of the company’s stock valued at $83,000 after acquiring an additional 2,460 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of AdaptHealth by 22.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,003 shares of the company’s stock valued at $70,000 after acquiring an additional 1,279 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of AdaptHealth by 318.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,592 shares of the company’s stock valued at $90,000 after acquiring an additional 7,297 shares during the period. 82.67% of the stock is owned by hedge funds and other institutional investors.

About AdaptHealth

AdaptHealth, Inc operates as a leading provider of home medical equipment (HME) and related services in the United States. The company focuses on delivering respiratory care, mobility solutions and bathroom safety products to patients with chronic and acute medical needs. Through its comprehensive service offerings, AdaptHealth aims to enhance quality of life and clinical outcomes for patients who require long-term support outside of a hospital setting.

The company’s respiratory portfolio includes products such as continuous positive airway pressure (CPAP) devices, oxygen concentrators, ventilators, and associated supplies for patients with sleep apnea, COPD and other pulmonary conditions.